Bitcoin has sharply pulled back from $118K to $113K, breaking below key support levels. However, despite this short-term weakness, BTC is still trading well above its 200-day SMA.
Key Technical Levels and Indicators
BTC has broken below ~$116K (orange line), which was previously a support zone. The current price is ~$113,932. The 50-day SMA is at ~$112,110 and acts as immediate support. The next major support is at ~$111,350. Despite the notable drop, BTC remains well above the 200-day SMA at ~$99,280, keeping the long-term uptrend intact. The RSI is also rebounding from local lows, suggesting that bears may be losing momentum.
Bitcoin Analysis: Suggested Buy Zones
For those looking to buy the dip or scale in, the following key zones are identified:
**$112,000 – $111,000 Zone** This is a key confluence of support: 50-SMA and recent structure. As long as BTC stays above here, it could be a low-risk buy zone.
**$100,000 – $99,280 Zone** Strong psychological and structural support, backed by the 200-SMA. If BTC drops this low, expect heavy accumulation.
**$75,000 (Extreme Bear Scenario)** This would represent a 35% drawdown from the recent top — ideal for long-term entries if macro conditions deteriorate.
Bitcoin Price Prediction: Watch These Zones for Exits or Risk Management
Key levels to watch include:
**$116,000 – $118,000** Recently lost support. If BTC pushes back into this zone but fails to hold, it could become a bull trap. Exercise caution.
**Break Below $111,000** If BTC closes below this level with strong volume, expect a drop toward $100K or lower.
Bitcoin is undergoing a healthy correction. While short-term sentiment has turned cautious, the long-term structure remains intact. Unless BTC breaks below $100K, this dip could provide one of the last major buy zones before the next uptrend.
